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AIIB Vice Chairman Hong on leave of absence amid DSME controversy
Collected
2016.06.29
Distributed
2016.06.30
Source
Go Direct
Hong Ky-ttak, the vice chairman of the China-led Asia Infrastructure Investment Bank (AIIB) took a leave of absence from his new office after he has come under fire and probe for lax and reckless management of Daewoo Shipbuilding and Marine Engineering (DSME) while he headed state-run Korea Development Bank (KDB).

According to the Ministry of Strategy and Finance Tuesday, Hong applied for a temporary leave with the AIIB’s board of directors, just four months after he had left the KDB to serve as a chief risk officer (CFO) for the AIIB.

He was absent at the first annual general meeting of AIIB held in Beijing, China last Saturday. He has kept low profile after his scandalous interview with a local media outlet where he said he merely obeyed the decision made in the so-called West-wing meetings at the Blue House among senior presidential secretary, finance minister, and head of the Financial Services Commission to grant fresh public fund of 4.2 trillion won to DSME.

By Kim Gyu-sik

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